The offer is a big change for the service, and PlayStation Plus members still get an array of online perks, like priority beta access and game discounts. This also comes hot on the heels of PlayStation Plus members getting half-price complete editions of major games.

It's....actually a pretty good deal. If you just got a PS3, then for a few bucks a month you can essentially rent a (rotating) list of games.
It's not for me (I like to horde my games, not rent/trade) but as far as these things go, it's pretty decent.

Of course, to get the optimum value, you'll have to move your rotation along pretty fast and finish them all quickly.

I've seen this before. It happened in the US with Netflix DVDs, and here with Bigpond Movies DVDs. You accidentally put some really artistic-looking documentary on your list with the intention of being more well-rounded, but you never actually feel like watching it, but rather than SEND IT BACK and admit defeat, you procrastinate and before you know it you're paying twenty bucks a month for the privilege of helping Bigpond store one of their DVDs in your home!

Never mind I found the answer... For Aussies it starts 7th June as per playstaions own website:
http://au.playstation.com/psn/news/articles/detail/item504098/Play-more%2C-pay-less-with-all-new-PlayStation-Plus/